Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

It helps immeasurably that he was born in Mareeba, so he is a Far North Queenslander, even though he represents the Gold Coast. The bottom line for that investment by the Australian people is: what has been achieved?

I want to recognise that there was a reasonable degree of scepticism about Australia taking on the hosting of the G20 at the time of the announcement, but I do want to recognise the contribution of the former member for Griffith, Kevin Rudd, and also of the member for Lilley, Wayne Swan, for hosting it in Queensland and in Sydney. The meeting in Sydney at the beginning of the year changed the discussion of global finance ministers.

At the beginning of the year there was no global growth target for the world. We laid down, at some risk, a two per cent global target to increase economic growth, to increase the size of the global economy by $2 trillion, to create 20 million new jobs. It has taken a great deal of effort, under the presidency of Australia, including effort by the Prime Minister and all the team, to get people across the line to help to deliver the growth plan that is 90 per cent of the way there. It is not 100 per cent of the way there; there is still more work to be done. But nearly 1,000 policy initiatives were submitted by member countries. Those 1,000 policy initiatives have the capacity to deliver global growth that starts to deliver on the ground more jobs, better pay, better quality of living, more inclusiveness. That is only achieved under the presidency of Australia. There is still much work to be done, including a very important leaders summit in Brisbane in November.

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